Financial news

• Major Tory donor investigated over fraud and money laundering allegations

  20-05-2023 20:00
  
  Indian rice tycoon Karan Chanana, who gave the Conservatives more than £220,000, is under scrutiny by India’s finance ministryA leading Tory donor who has given more than £220,000 to the party is being investigated over allegations of fraud and money laundering.Karan Chanana, head of the global rice brand Amira, is being investigated in India over claims that tens of millions of pounds of bank loans were unlawfully diverted into shell entities. Chanana has not responded to the
  
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• Water companies ‘apologise’ to their customers – cartoon

  20-05-2023 19:13
  
  Sewage, sewage everywhere… and still your bills go up• You can order your own copy of this cartoon Continue reading...
  
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• Brexit wrecked UK car industry, but so have the Tories | Phillip Inman

  20-05-2023 18:00
  
  As carmakers warn that London must renegotiate its deal with Brussels, a lack of government policy is also plaguing the sectorThere is no hope for Britain’s car industry … or at least no hope of maintaining the scale and productive capacity that this bedrock of the UK manufacturing sector could boast before the Covid-19 pandemic.It’s downhill from here. Continue reading...
  
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• ‘The whole thing stinks’: water firms to pay out £14.7bn in dividends as customers foot sewage costs

  20-05-2023 17:54
  
  With cost of cleanup to be passed on to bill payers, analysis shows they will also pay £624 more by 2030 to fund investor payoutsEnglish water companies will pay an estimated £14.7bn in dividends by the end of this decade, while making customers pay for new investment to stem the tide of sewage pollution in seas and rivers, analysis for the Observer has revealed.Liberal Democrat MP Tim Farron denounced the billions going to shareholders as “absolutely scandalous” while fa
  
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• ‘The whole thing stinks’: UK water firms to pay out £14.7bn in dividends as customers foot sewage costs

  20-05-2023 17:54
  
  With cost of cleanup to be passed on to bill payers, analysis shows they will also pay £624 more by 2030 to fund investor payoutsWater companies will pay an estimated £14.7bn in dividends by the end of this decade, while making customers pay for new investment to stem the tide of sewage pollution in seas and rivers, analysis for the Observer has revealed.Liberal Democrat MP Tim Farron denounced the billions going to shareholders as “absolutely scandalous” while families s
  
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• When the tech boys start asking for new regulations, you know something’s up | John Naughton

  20-05-2023 17:00
  
  The OpenAI CEO says his industry needs government intervention. Whether it’s a ploy or a plea for help, we should be concernedWatching the opening day of the US Senate hearings on AI brought to mind Marx’s quip about history repeating itself, “the first time as tragedy, the second as farce”. Except this time it’s the other way round. Some time ago we had the farce of the boss of Meta (neé Facebook) explaining to a senator that his company made money from adve
  
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• Parties, power, racing: meet Ovo’s Stephen Fitzpatrick, the man who would be Richard Branson

  20-05-2023 17:00
  
  He emulates the Virgin founder’s freewheeling portfolio career. But he is also the tycoon behind a major UK power supplier dealing with an energy crisis. Is he spreading himself too thin?Pink flamingos once strolled around a rooftop garden set high above the traffic of Kensington High Street in west London, where stars including Madonna and George Harrison rubbed shoulders with the business elite.The exclusive party venue was owned by Richard Branson’s Virgin for 37 years before clos
  
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• Has the vegan bubble burst? Sales stagnate in UK as brands withdraw plant-based products

  20-05-2023 15:20
  
  Oatly, Nestlé and Innocent Drinks are among those pulling products from shelves as figures show even Veganuary backfiredWhen the dairy-free brand Oatly launched a range of vegan ice-creams, including chocolate fudge and hazelnut swirl, in October 2019, it hoped to entice consumers with flavours described as “unashamedly indulgent”.The range – described by fans as “silky” and “creamy” – was part of what food experts described as a “gold
  
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• Thousands of Amazon staffers are pouring into its Seattle offices. Will it restore the downtown’s fortunes?

  20-05-2023 14:00
  
  Experts say the economic balance is more complex than one business and that the revitalization should be equitableTony Wang was beaming.Sales at Yumbit, the lunchtime food truck he works at in downtown Seattle, had been doing well in recent days, so much so they may need more staff. Continue reading...
  
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• 'You made it': Rishi Sunak and Volodymyr Zelenskiy meet at G7 summit – video

  20-05-2023 13:39
  
  The British prime minister, Rishi Sunak, embraced the Ukrainian president, Volodymyr Zelenskiy, before talks on the Russian invasion of Ukraine at the G7 leaders’ summit in Hiroshima. Sunak and other G7 leaders agreed to tighten sanctions against Moscow and pare back exposure to ChinaRussia-Ukraine war: latest updates Continue reading...
  
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• UK music festivals: how to save money on your summer fix

  20-05-2023 13:00
  
  From cheaper tickets to secondhand camping equipment or working some shifts, there are ways to save moneyThe cost of living crisis may be biting hard but what is almost certainly Britain’s most expensive music festival – costing up to £325 a person for only one afternoon and evening’s entertainment – doesn’t seem to be having any problems shifting tickets.Soho House festival, taking place in Gunnersbury Park, west London, on two separate days, 6 and 8 July, ha
  
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• Artificial intelligence holds huge promise – and peril. Let’s choose the right path | Michael Osborne

  20-05-2023 12:30
  
  AI can fight the climate crisis and fuel a renewable-energy revolution. It could also kill countless jobs or incite nuclear warThe last few months have been by far the most exciting of my 17 years working on artificial intelligence. Among many other advances, OpenAI’s ChatGPT – a type of AI known as a large language model – smashed records in January to become the fastest-growing consumer application of all time, achieving 100 million users in two months.No one knows for certai
  
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• HRT medicine Utrogestan restricted in UK amid shortages

  20-05-2023 12:02
  
  Pharmacists can only dispense maximum of two months’ supply for every prescription as supplier struggles to meet demandMinisters are restricting an hormone replacement therapy medicine for menopause symptoms to two-month prescriptions as the supplier struggles to meet soaring demand.Utrogestan is expected to be in intermittent supply until late this year, according to the Department of Health and Social Care (DHSC). Officials said its manufacturer, Besins, was increasing supply but still u
  
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• ‘Those bastards stole the most special stuff’: the inside story of a €1.6m wine heist

  20-05-2023 12:00
  
  In 2021, a mysterious couple sat down for dinner at the Michelin-starred Atrio in rural western Spain. When they left, 45 bottles of wine – including a priceless 1806 vintage – had vanished. Who were these thieves with such impeccable taste? Wasn’t it a little odd, thought the night manager, that the woman in room 107 should be peckish so soon after finishing the hotel’s 14-course tasting menu, a paean to the pig featuring tuna belly with red lard, scallops and pig’
  
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• Tenants and shelters in England hail bill allowing private renters to keep pets

  20-05-2023 11:00
  
  Change should result in fewer animals being abandoned and make it easier for owners to find accommodationRenters, pet owners and animal shelters have praised a long-awaited law that will allow tenants to keep pets in rented accommodation, after the government unveiled legislative changes to the private rented sector earlier this week.Under the renters’ reform bill, tenants will have the legal right to request a pet in their home, which landlords cannot unreasonably refuse. The legal overha
  
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• Fertility test kits: affordable and easy but there are downsides

  20-05-2023 11:00
  
  As more people choose at-home options, doctors say they should be used with expert guidanceGrowing numbers of people are buying at-home fertility tests despite concern from some leading doctors that these products may cause already anxious would-be parents to worry unnecessarily about their ability to have children.They also say there is an urgent need for better regulation in this area. Continue reading...
  
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• UK mortgages: time to switch and fix to save up to £400 a month

  20-05-2023 09:00
  
  Average SVR at highest level for more than 15 years as number of home loan products available jumpThe average standard variable rate (SVR) for mortgages has climbed to its highest level for more than 15 years, so many people sitting on one of these could save several hundred pounds a month by switching to a fixed-rate deal.That was one of the key takeaways from data issued this week that also signalled that rates on new fixed-rate mortgage deals may start to rise again. Continue reading...
  
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• The 56 health conditions that could entitle you to up to £5,300 a year

  20-05-2023 08:01 via express.co.uk
  
  Millions of pensioners are thought to be missing out on the DWP's vital Attendance Allowance benefit.
  
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• Full new state pension is now £10,600 - check how much you'll get in retirement and when

  20-05-2023 08:01 via express.co.uk
  
  ‌Britons may be able to boost their state pension by thousands of pounds, so checking how much they are due could be worthwhile.
  
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• Couple living abroad set to earn £124,700 from side hustle success after retiring early

  20-05-2023 07:01 via express.co.uk
  
  Speaking exclusively to the Daily Express, a family is sharing how their side hustle success has facilitated retiring in their 20s.
  
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• Couple get payout after water buffaloes fall into Essex swimming pool

  20-05-2023 07:00
  
  Andy and Lynette Smith spent 10 months seeking compensation after animals’ escape from nearby farmAn Essex couple have spent 10 months seeking compensation after 18 escaped water buffaloes stampeded through their garden, with eight of them taking a morning dip in their new swimming pool.Andy and Lynette Smith, who are retired, say that their garden and pool were ruined after the animals, which weigh about 600kg each, got out of a rare breeds farm and on to their property, causing more than
  
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• Millions of homeowners warned of 'rule of thumb' before remortgaging - 'keep an eye out'

  20-05-2023 05:01 via express.co.uk
  
  Millions of families looking to remortgage are facing tougher than ever decisions as fixing to a new rate means paying hundreds more each month as interest rates rise.
  
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• Savvy grandma shares how she saved £1,150 in one year - and still enjoyed three holidays

  20-05-2023 05:00 via express.co.uk
  
  The retired woman has been able to save on holidays and days out thanks to a club membership, she told Express.co.uk in an exclusive interview.
  
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• Pension saving has ‘big tax relief attraction’ - how to get ‘the most’ out of your pot

  20-05-2023 05:00 via express.co.uk
  
  EXCLUSIVE: Pension savings come with ‘considerable' tax relief benefits, and Express.co.uk spoke to experts to find out what these are.
  
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